Yellowknife (Dec 13/04) - Together, they hope to get their hands on an oily $1 billion.

The Gwich'in Development Corporation (GDC) is partnering with six heavy hitters from the pipeline and oil and gas sector to get an opportunity to secure the Gwich'in portion of the pipeline -- up to $1 billion in construction contracts -- through the building of the Mackenzie Valley Pipeline.

The new company is called the Mackenzie Aboriginal Corporation (MAC).

Along with the Gwich'in corporation, the other companies involved in the venture includes Flint Energy Services Ltd., Ledcor Industries Inc., Midwest Management (1987) Ltd., North American Pipeline Inc., Pentastar Energy Services Ltd., and Peter Kiewit Sons Co. MAC is owned through two holding companies. One holding company, owned by the Gwich'in, represents 51 per cent of overall ownership. The second holding company is owned by the industry representatives with 49 per cent of the shares.

"We partnered with high-calibre contractors to ensure that MAC will be a highly competitive proponent in bidding for work from the Mackenzie Gas Project," said Fred Carmichael, president of GDC and a director of MAC.

Exactly how much business the new venture would be able to corral from the building of the pipeline isn't certain, said Brian Butlin, president and chief executive officer of Flint Energy Services Ltd. and president of MAC.

"We are currently working with Imperial Oil -- the lead energy producer in the Mackenzie Gas Project -- to show them we can undertake the work," said Butlin.

He also confirmed the concept is Carmichael's brainchild.

"Fred knew Neil Brown at Pentastar and I new Brown and it went from there," said Butlin. Butlin also confirmed the joint venture was a year in the making in trying to get the right mix of skills and services in place.

"Obviously, if we are to sell it, we need to do the work and satisfy needs of the aboriginal communities along the way," he said.

Mackenzie Gas Project and Imperial Oil spokesman Hart Searle confirmed Flint and Ledcor have done work for Imperial.